Choosing between a Visa vs Mastercard is not a hard decision if you know their differences and similarities. Both payment networks provide international services to their customers. The major difference arises when you are looking for a credit card for travel.
This is because both these cards provide a variety of special privileges for travel. This includes emergency services, concierge services, discounts on stay, etc. Knowing their features and benefits will help you get an answer to the Visa vs Mastercard debate.
About Visa
Established in 1958, it is one of the most trusted multinational payment networks. Based in San Francisco, California, it has over 4.3 billion users worldwide. It’s connected with over 14,000 financial institutions and over 130 million merchants globally. This facilitates swift domestic and international transactions.
About Mastercard
Since 1966, Mastercard has made the payment process simple with its credit and debit cards. It currently has approximately 1.03 billion credit cards and 1.55 billion debit cards in circulation. It’s a leading payment network worldwide with world-class technology and quality customer service.
Features and Benefits of Visa
While you can enjoy the best quality service and protection with most credit cards, some perks are limited to the card category. Visa operates on a tiered structure, offering five types of credit cards:
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Visa Classic
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Visa Gold
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Visa Platinum
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Visa Signature
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Visa Infinite
All these types of cards offer exclusive features with a number of benefits in ascending order. So, you can access basic facilities with a Classic card, but Visa Infinite gives you luxury benefits. Here is a list of different benefits you can get with a Visa credit card.
Features and Benefits of Mastercard
Similar to the Visa card, you can get many membership perks as per your card type. If you opt for a Mastercard, you can choose from the following credit cards:
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Mastercard Standard
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Mastercard Platinum
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Mastercard World
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Mastercard World Elite
All these cards are acceptable domestically and internationally. This way, it aids in making your travel more comfortable by providing you with travel protection. Here are the travel and emergency benefits offered by Mastercard in different categories.
Acceptability of Visa and MasterCard
While both payment networks are accepted by nearly all retailers, you should consider the number of countries they are accepted. Visa is accepted by merchants in over 200 countries, while Mastercard is accepted in 210 countries.
The difference between the acceptability of both these cards is negligible, but Visa has a high acceptance rate. There are 4.3 billion Visa credit card holders compared to the 1.03 billion Mastercard credit card holders globally. This difference in number can be credited to the higher number of features and security of Visa Cards.
While knowing these features about top payment networks is important, make sure to check the credit card features of your issuer as well. After all, they decide the maximum reward points you can earn and any additional benefits you can enjoy.
Therefore, you must choose your issuer carefully and get a credit card for travel that meets your lifestyle needs. One of the best options you can choose from is the One Credit Card. It’s a rewards credit card offering 5X points on your top two monthly spending categories.
Irrespective of the category in which you have earned these reward points, you can redeem them at no extra cost. This allows you to save more on all your purchases. In addition, it offers travel benefits, such as discounts on leading travel websites, 1% forex markup, and better security. Apply online to enjoy a stress-free travel experience.
